Team News Riveting
Raipur, October 1
The iron ore production of National Mineral Development Corporation (NMDC) soared 47 per cent in September compared to the corresponding period last year (CPLY).
Country largest iron ore miner produced 2.69 million tonne (MT) in September 2021 compared to 1.83 MT output during the previous year’s corresponding period. The sales of steel making raw material also surged 29.38 per cent at 2.73 MT compared to previous year’s 2.11 MT.
The cumulative production and sales till September 2021 were 17.71 MT and 12.24 MT respectively. As compared to previous year, the production and sales had increased by 45 per cent and 43 per cent respectively over the corresponding period of last fiscal.
NMDC is India’s single largest iron ore producer, presently producing about 35 MT of iron ore from 3 fully mechanized mines, two located in Chhattisgarh and one in Karnataka.
The state-owned miner is aiming to achieve 47 MT of iron ore production during the current financial year. In the financial year 2020-21, NMDC achieved iron ore production of 34.15 MT and sales of 33.25 MT.
The company would be diversifying to coal mining in the current quarter and planned to spend Rs 3,720 crore on capital expenditure. NMDC had been allotted two coal mines in Jharkhand.
At the 63rd Annual General Meeting held through video conference, Chairman and Managing Director of the company Sumit Deb said the iron and steel industry would see exciting opportunities from rapid developments through digitalisation and automation, infrastructure initiatives, reorganisation of urban centres and energy transformation.
